Algeria reinforces ties with Spain

Algeria and Spain have taking their bilateral relations and cooperation to another level after the signing ceremony of several industrial partnership agreements in various sectors. The ceremony was witnessed by ministers from both governments with Cherif Rahmani, Algeria’s minister of Industry, Small and Medium-sized Enterprises and Investment Promotion, and Spain’s Minister of Industry, Energy and Tourism Jose Manuel Soria Lopez.
In the area of mechanics, Africaver, a subsidiary of pharmaceutical company SGP-Gephac signed an agreement with Sunco Clean Energy Solutions for the production and processing of flat glass used in photovoltaic solar panels. An agreement between SGP-Cabeleq and Tracasa was centered on the engineering of land and rural space along with information systems.
With regards to the construction and hydraulics sector, a deal was sealed between the General Association of Algerian Entrepreneurs (AGEA) and the Asturian Confederation of Construction (Asprocon-CAC). The agreement will also cover training programs for Algerians.
A cooperation agreement was also part of the package. The Forum of Algerian Business Managers (FCE) and the Spanish Confederation of the Employers Organizations (CEOE) signed an agreement to bolster the activities between the two countries.
Speaking about the concluded agreements, Minister Rahmani said Algeria aims to develop a manufacturing industry in metallurgy, steel, building materials, and food processing. According to him, they “must be a productive economy” and not a market where goods will only be distributed.
He cited that their partnership will be geared towards the transfer of Know-how in order for them to gain the necessary techniques and required technology for the construction of infrastructures and the creation of industrial equipment.
Spain has around 270million Euros of investment in Algeria and wants the foreign investment law to be revised.